The AUD/USD pair rose during the session on Friday, breaking above the 0.92 level at one point in time. This shows strength, but there is a certain amount of bearishness left in this pair as we approach the very top of the larger consolidation area, and as a result we are not ready to start buying this market as we expect the consolidation area to hold at least in the short term. The Federal Reserve and its tapering decision will of course have a massive effect on the value the US dollar, which of course would have a massive effect on this pair.
Written by FX Empire